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The Nigerian Shippers’ Council reported that Nigeria and other African countries are losing $50 billion annually due to illegal financial outflows.
The Executive Secretary/Chief Executive Officer of the NSC, Pius Akutah, made this statement during a debate competition in Lagos themed "Effective whistleblowers protection mechanism: A critical tool in the fight against corruption".
Akutah emphasized that illicit financial outflows have a negative impact on the quality of life in Africa, hindering efforts to lift Africans out of poverty and provide basic services.
He also highlighted the pervasive and detrimental effects of corruption on society, and the need for the continent to involve young people in discussions about national issues.
